(Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement in relation to the Private Placement dated 25 February 2022).

We refer to the Company’s announcements dated 25 February 2022, 4, 16, 18 March 2022, 4 April 2022, 1 September 2022 and 13 October 2022 in relation to the Private Placement.

On behalf of the Board, Malacca Securities wishes to announce that the approval from Bursa Securities for the extension of time of six (6) months up to 15 March 2023 to complete the implementation of the Private Placement (“Extension of Time”) had lapse on 15 March 2023.

Pursuant to the Private Placement, the Company had completed the listing of 15,000,000 Placement Shares at an issue price of RM0.0734 per Placement Share on 29 March 2022 (“First Tranche”) and the listing of 10,000,000 Placement Shares at an issue price of RM0.0767 per Placement Share on 12 April 2022 (“Second Tranche”).

Subsequent to the First and Second Tranches, the Company, after taking into consideration, amongst others, the prevailing market condition, had decided to not to place out the remaining Placement Shares.

Accordingly, the Private Placement is deemed completed following the expiry of the Extension of Time.

This announcement is dated 15 March 2023.